Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 543RULES RELATING TO THE PROVISIONS OF THE TEXAS TIMESHARE ACT
RULE §543.11Escrow Requirements
ISSUE 08/26/2022
ACTION Final/Adopted
Preamble Texas Admin Code Rule
(a)For purposes of §221.063(a) of the Texas Timeshare Act, the alternative financial assurance from another state or jurisdiction must be for the same timeshare plan as the timeshare plan being registered or registration being amended.

 (b)A timeshare developer shall, not later than the 10th day after the date of the change, provide the Commission with written notice of any increase or decrease in the original surety bond as provided for in §221.063(a) of the Texas Timeshare Act.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on August 10, 2022

TRD-202202986

Abby Lee

Deputy General Counsel

Texas Real Estate Commission

Effective date: August 30, 2022

Proposal publication date: May 20, 2022

For further information, please call: (512) 936-3057

 

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